Inventory of the California Public Employee Retirement System Records
Chris Deutsch
California State Archives
1020 O Street
Sacramento, CA 95814
Phone: (916) 653-2246
FAX: (916) 653-7363
E-mail: ArchivesWeb@sos.ca.gov
URL: http://www.sos.ca.gov/archives/
© 2009
California Secretary of State. All rights reserved.
Inventory of the California Public Employee Retirement System Records
Collection number: R199
California State Archives
Office of the Secretary of State
Sacramento, California
- Processed by:
- Chris Deutsch
- Date Completed:
- January 2009
- Encoded by:
- Jessica Knox
© 2009 California Secretary of State. All rights reserved.
Descriptive Summary
Title: California Public Employee Retirement System Records
Dates: 1899-1991
Collection Number: R199
Creator:
California State Employee Retirement System;
Creator/Collector: California Public Employee Retirement System
Collection Size:
15.5 Cubic Feet
Repository:
California State Archives
Abstract:
In 1927, Californians amended Article IV of the State Constitution by adding Section 22a to require that the State provide
pensions to state workers. Shortly thereafter, the State Legislature passed a bill creating the State Employee Retirement
System (SERS). In 1967, the State Legislature changed the agency's name to Public Employee Retirement System (PERS). The record
group consists of 15.5 cubic feet of textual records from the California Public Employee Retirement System covering the years
1899 to 1991 with the bulk of the records covering the 1950s to the 1990s.
Physical Location: California State Archives
Languages: Languages represented in the collection:
English
Administrative Information
Access
While the majority of the records are open for research, any access restrictions are noted in the record series descriptions.
Publication Rights
For permission to reproduce or publish, please consult California State Archives staff. Permission for reproduction or publication
is given on behalf of the California State Archives, Office of the Secretary of State, Sacramento, as the owner of the physical
items. The researcher assumes all responsibility for possible infringement that may arise from reproduction or publication
of materials from the California State Archives' collections.
Preferred Citation
[Identification of item], California Public Employee Retirement System Records, R199.[series number], [box and folder number],
California State Archives, Office of the Secretary of State, Sacramento, California.
Acquisition Information
The California State Archives acquired the California Public Employee Retirement System Records according to state law.
Agency History
Following the 1927 Commission on Pensions of State Employees (Chapter 431, Statutes of 1927) recommendations, Californians
amended Article IV of the State Constitution by adding Section 22a to require that the State provide pensions to state workers.
Not long after, the State Legislature passed and Governor James Rolph, Jr. signed the bill creating the State Employee Retirement
System (SERS) (Chapter 700, Statutes of 1931). SERS initially provided retirement payments to state workers and would incrementally
increase to cover all California public employees. In 1939, the Legislature expanded SERS to include public teachers (Chapter
954, Statutes of 1939). The next major change to SERS came in 1962 with the Myers-Geddes State Employees' Medical and Hospital
Care Act (Chapter 1236, Statutes of 1961), allowing SERS to provide health insurance to state workers. The Legislature expanded
these provisions to include all public employees in 1967 (Chapter 1455, Statutes of 1967). The Long Term Care Act (Chapter
9, Statutes of 1991) further expanded the health care by granting the agency authorization to offer long-term care to all
PERS members, both state and local.
SERS remained focused on providing benefits to state workers while incrementally offering benefits to non-state workers. The
emphasis changed to all public employees in 1967 when the State Legislature changed the agency's name to Public Employee Retirement
System (PERS) in recognition of its expanded coverage (Chapters 84 and 1631, Statutes of 1967). Subsequently, all of the public
employee retirement systems became managed by the recently renamed agency. PERS would eventually change to California Public
Employee Retirement System (CalPERS) in 1992 to differentiate it from other state retirement programs.
The Board of Administration (the Board) governed PERS and managed investments. Various committees, such as the Investment
Committee and the Health Insurance Committee, focused on assigned areas and reported to the Board. These committees reflected
the system's expanding focus.
The Board managed the retirement fund and invested in bonds starting in 1932, with real estate investment added in 1953. Furthermore,
starting in 1967, the Legislature granted the Board the ability to invest up to 25 percent of the fund portfolio in the stock
market (Chapters 39, 110, 1285, 1293, 1394, 1407, 1510, 1665, and 1631, Statutes of 1967). Proposition 21 in 1984 removed
the 25 percent portfolio limit.
Scope and Content
The record group consists of 15.5 cubic feet of textual records from the California Public Employee Retirement System covering
the years 1899 to 1991 with the bulk of the records covering the 1950s to the 1990s. Memorandums, correspondence, and reports
form the bulk of the material and demonstrate the PERS administration forming policy and making investment decisions.
This collection will interest researchers concerned with the policies of PERS and its administration, especially from the
1950s to the 1980s. Most of the collection originated from the Board of Administration and its related committees while focusing
on administrative and investment issues. The Board focused on maintaining financial solvency and fiduciary responsibility
through managing investments and choosing dedicated financial managers. The Board also dealt with specific cases concerning
public employees seeking redress. The collection offers researchers insight into how the board operated by providing details
on the various committee meetings as well as illuminating the evolution of California retirement policy starting from the
1930s to the mid 1980s. Investment policy appears throughout the collection as the various series often relate to investment
options from the early 1930s to the early 1990s. This collection also reflects retirement and investment policy that made
CalPERS successful.
It is anticipated that the Archives will receive further records from the California Public Employee Retirement System. Researchers
should check the accession binders in the Archives Reference Room for recently received, unprocessed records.
Accruals
Further accruals are expected.
Indexing Terms
The following terms have been used to index the description of this collection in the library's online public access catalog.
California. Public Employees' Retirement System
California. Public Employees' Retirement System. Board of Administration
California. State Employees' Retirement System
State Employee Retirement System
1905-1927
R199.01, Box 1, Folders 1-13
Series 1
State Employee Retirement System Files
1905-1927
Physical Description: 13 file folders
Arrangement
Arranged chronologically by year.
Scope and Content
The SERS Files contain payroll information related to employees of the Department of Engineering on infrastructure improvement
projects under the Department of Engineering such as the Sonora and Mono State Highway, Lake Tahoe Wagon Road construction,
and river improvement projects. Payroll sheets include name of employees, occupations, number of days worked, and salaries.
Also included is a 1924-1927 payroll book, located at C1854.
Public Employee Retirement System
1899-1970
R199.02, Box 1-2, Folders 14-11
Series 1
Historical Files
1899-1970
Physical Description: 30 file folders
Arrangement
Arranged alphabetically by subject heading.
Scope and Content
Historical files consist of reports, speeches, publications, memoranda, and press clippings relating to a variety of subjects
such as state retirement plans prior to 1932 as well as SERS and PERS policy formation. Some of the most prominent subjects
include Attorney General Reports, Investment Policy Discussions, and Social Security and its application to state employees.
A number of the files concerns relations between SERS and the California State Employees Association and include correspondence,
reports, and meeting information for CSEA. Another interesting topics found in the series was was the fate of General Mariano
Guadalupe Vallejo's daughter Luisa Emparen, who was caretaker of the family estate under state employment. Another important
subject concerned proposed mergers of SERS and the Old Age Insurance Agency. Notable publications include Governor Henry Gage's
1899 inaugural address, Governor George Pardee's 1907 Second Biennial Message to the Legislature, and Commission on Pensions
of State Employees report (1929).
Board of Administration
1956-1991
R199.04, Box 4, Folders 7-16
Series 1
Legislative Bill Files
1983-1984
Physical Description: 10 file folders
Arrangement
Arranged numerically by bill number.
Scope and Content
The Board of Administration followed state bills dealing with retirement and provided bill analysis to determine what position
PERS would take on each bill. Although the collection only contains the 1983 to 1984 session, the bills related to many important
topics such as employee classification, PERS structure, budgets, interest rates, investment requirements and PERS investing
in South Africa.
R199.05, Box 4-9, Folders 17-2
Series 2
Meeting Files
1956-1978
Physical Description: 80 file folders
Arrangement
Arranged chronologically by meeting date.
Restriction
These files are RESTRICTED as per Government Code Section 7927.7 (formerly Gov. Code section 6254(c)) (unwarranted invasion
of personal privacy). The retirement claims contain significant personnel information including social security numbers.
Scope and Content
The Board of Administration meeting files contain the agendas, memorandum, and reports used during the meetings. The board
typically met once per quarter. The Board frequently discussed investment issues and the structure of SERS and PERS as well
as making policy decisions. Additionally, the Board dealt with retirement claims made by individuals. They reviewed important
cases and decided if individual cases required further adjudication.
R199.06, Box 9-10, Folders 8-16
Series 3
Meeting Transcripts
1975-1982
Physical Description: 35 file folders
Arrangement
Arranged chronologically by meeting date.
Scope and Content
The series contains verbatim meeting transcripts for the Board of Administration and Retirement Board. The transcripts documented
the issues that concerned PERS. While lacking agendas and other background distributed during the meetings, the files captured
board member's discussions on important issues such as investments, retirement cases, and administration.
Board of Administration - Building Committee
1977-1986
R199.03, Box 2-4, Folders 12-6
Series 1
Committee Meeting Files
1977-1986
Physical Description: 37 file folders
Arrangement
Arranged chronologically by meeting date.
Scope and Content
The Board of Administration created the Building Committee to oversee the construction of the PERS office in Sacramento. The
committee managed the site selection process, bidding process, construction, and budget management. The Lincoln School served
as the site for the new building and PERS faced litigation with the City of Sacramento over taxes and the proposed building's
affect on the city. Subjects included bidding, reports, site selection, and similar topics. The files include memoranda,
reports, and notes on the process. The committee debated many issues with the new building such as its environmental impact,
heating efficiency, building layout, and building techniques.
Board of Administration - Health Insurance Committee
1968-1975
R199.07, Box 10-11, Folders 17-7
Series 1
Committee Meeting Files
1968-1975
Physical Description: 10 file folders
Arrangement
Arranged chronologically by meeting date.
Scope and Content
The Health Insurance Committee Files primarily consists of agendas, which included PERS enrollment statistics, health insurance
solvency, Kaiser Permanente proposals, and demographic statistics. The Health Insurance Committee was a committee of the Board
of Administration and often held meetings on the same days as the Board of Administration.
Board of Administration- Investment Committee
1957-1991
R199.08, Box 11, Folders 8-16
Series 1
Committee Meeting Files
1957-1967
Physical Description: 9 file folders
Arrangement
Arranged chronologically by meeting date.
Scope and Content
The Investment Committee, a committee of the Board of Administration, managed fiscal matters for PERS. The committee's focus
on investment and fiduciary responsibility appear in each meeting, manifested in the meeting files. The majority of the series
consists of each meeting's agenda, which listed PERS investments and end-of-quarter returns. Additionally, the committee explored
investment options and future investment strategies.
R199.09, Box 11-16, Folders 17-5
Series 2
Proposals
1985-1991
Physical Description: 89 file folders
Arrangement
Arranged numerically by proposal number.
Scope and Content
The Investment Committee decided investment options for PERS, including determining which firms would be investment managers
for various portfolios. This series originated from two proposals, 90-60 and 90-73 and was arranged by proposal number with
relating correspondence following each proposal. Proposal 90-60 was for a proposal for a securities lending agent with Boston
Company, Bank of New York, and Citibank applying for consideration. Proposal 90-73 was for a high-yield fixed income manager
with Washington Square Advisors, Merrill Lynch, and Trust Company of the West applying for consideration. The committee rated
each applicant based on numerous performance standards. Reports, rough drafts, correspondence, memoranda, and investment notes
constitute the series.